Nifty logs modest gains; All eyes on election results
How well the EQSIS recommendations performed today 22 May?
1. EQSIS Intra: Long RELIANCE above 1360 Target 1376.3 Stop below 1347 CMP 1355
Status: Not Initiated
2. EQSIS Intra: Long HDFCBANK above 2425 Target 2449.4 Stop below 2405 CMP 2423
3. EQSIS Intra: Short TCS below 2085 Target 2065 Stop above 2101 CMP 2090
Top Stocks To Watch On Thursday 23 May 2019
JUSTDIAL gained by 3.92% and ended at Rs.742.75. Additionally it secured significant returns on the weekly basis. Trading volume inflated by 227 percent at last trading day. But largely the volumes are settled intraday. It Indicates bullish trend formation. It is frequently rising for 6 days. This stock is currently settled above the recent resistance zone. We see short term support around 548.
JINDALSTEL plunged by 6.7% and ended at Rs.152.4. It witnessed Star pattern on daily chart. Trading volume hiked by 234 percent at last trading day. Yet largely the volumes are intraday in nature. There is an evidence of bearish trend. The intensity of the sellers is visible through the todays gap.It is trading below its recent support zone. The Near term resistance is seen around 183.
DHFL plunged by 9.58% and finished at Rs. 117.55. It witnessed Star pattern on daily chart. Trading volume hiked by 138 percent at last session. Yet numerous trades were intraday trades. The momentum of the sellers is evident from the unfilled gap.Currently it is trading around the lower range of its price band. The crucial support zone is around 106.
BALKRISIND witnessed Star pattern on daily chart. BALKRISIND volume increased by 151 percent at last trading day. The technical indicator RSI indicates oversold scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 775.
TECHM declined by 2.99% and closed at Rs.749.95. Trading volume inflated by 164 percent. It suggest for bearish trend. The momentum of the bears is indicated by the todays gap.It is trading below its recent support zone. The Near term resistance is seen around 835.
Closing Bell: Nifty logs modest gains; All eyes on election results
The Nifty 50 index climbed 28 points to 11,737 on Wednesday. The benchmark index nifty logged modest gains after a volatile session of trade ahead of election results scheduled to be announced tomorrow. Among sectors, except IT, FMCG, media other sectors ended higher led by bank, auto, infra, energy, pharma and metal.
Nifty Top Gainers/Losers
IndusInd Bank was the biggest gainer in the nifty pack, ralling 4.84 per cent, followed by Sun Pharma, BPCL, Bajaj Auto and Eicher Motors ending up to 5.45 per cent higher.
On the other hand, Tech Mahindra, Indiabulls Housing, YES Bank, Bharti Infratel, and ITC ended in the red, slipping up to 2.34 per cent.
Market Update: Nifty trade rangebound
Indian equity index nifty were trading rangebound in afternoon trade on Wednesday, tracking global cues and ahead of election results tomorrow.
Three out of 11 sectoral gauges compiled by National Stock Exchange declined, led by the NSE Nifty FMCG Index’s 1.08 percent fall. On the flipside, the NSE Nifty PVT Bank Index was the top sectoral gainer, 1.19 percent.
Treasure Quiz Q1
One among the three stocks has formed double top pattern and currently trading below the neckline
* Pick the right one and make use of it and also answer the stock in comment section
Morning Update: Nifty trade tepid ahead of the Lok Sabha 2019 election outcome
The NSE Nifty were trading at 11,713, up 5 points higher on Wednesday. Key equity index Nifty fluctuated between gains and losses in the morning session ahead of the Lok Sabha 2019 election outcome. All sectoral indices are giving mixed trends, with gains visible among realty and finance stocks was offset by losses in FMCG, pharma and media stocks.
The market breadth, indicating the overall health of the market, was weak. On NSE, 673 shares rose and 816 shares fell. A total of 105 shares were unchanged.
FII & DII data
Foreign Institutional Investors (FIIs) bought shares worth Rs 1606.81 crore while Domestic Institutional Investors (DIIs) sold Rs 1090.32 crore worth of shares in the Indian equity market on 21st May.
Nifty Earnings To Watch
- IndusInd Bank
- Bank of Baroda
- Canara Bank
- Ramco Cement
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